Ripple’s ODL Partner Signs Merger Deal with Uber to Assist Drivers Send Money Abroad   

newslogical.com 2020-05-27 23:00
Reading time: ~3 m

One of Ripple’s biggest partner has just signed a deal with the multinational ride company Uber to continue the extension of its tentacles around the world.

As the global pandemic continues to last longer than thought, world’s second-largest remittance company MoneyGram today announced a collaboration with American ride-hailing company, Uber, to let their drivers and other workers enjoy easy, seamless and cheap “digital money” transfers while sending funds to their families in more than 200 countries of the world, a report has said.

MoneyGram CEO Alex Holmes said the partnership became needful as a result of customer feedback especially from drivers and couriers who love and use MoneyGram for sending money. He added that the remittance company is elated to offer drivers discounted transfer rate during this COVID-19 pandemic period via the latest deal.

Aside from the drivers, MoneyGram would be offering everyone who makes their earnings through Uber a user-friendly and remittance service while they send back home to their loved ones. Examples of those who are eligible to the discount include those who make use of Uber apps like Uber Freight, Driver app, Uber Works, and Uber Eats to make their means of livelihood.

As this period remains a challenging one for its workers, Uber says it partnered with MoneyGram to let it workers easily extend kindness to loved ones abroad.

The COO of MoneyGram, Kamila Chytil, explained that the demand for MoneyGram’s digital remittance service continues to increase, and the company looks forward to satisfying more customers in a better way.

Chytil said MoneyGram looks forward to offering people who earn via Uber platform cheaper transfer services.

The progress succeeds a previous announcement that MoneyGram partnered Korea payment giant E9Pay.

Will MoneyGram Use Ripple’s ODL to Settle Uber Drivers Transaction?

MoneyGram however did not state whether they will use RippleNet or XRP to remit the funds the Uber workers would be sending home, but the executives revealed that it would be using its digital transfer services to executing the transfers, hence Ripple’s solution may be used.

Also, Uber offer services to people in Mexico and US, and MoneyGram has promised that it would use Ripple’s ODL to execute at least 10% of transactions it would be performing within this corridor, thus, Ripple blockchain solution would potentially be used.

When MoneyGram Partnered Ripple

In July 2019, Ripple announced partnership with MoneyGram in a $50 million deal that saw the silicon-valley company get 10% of MoneyGram’s equity for 2 years.

While the deal is about to clock a year, MoneyGram has recorded significant progress in its activities and the services it offers customers following the partnership. Also, Ripple’s ODL along the Mexican corridor has also surged significantly.


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